Banks team up to outflank fintechs for gig economy payments

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As the gig economy balloons, a private network is adding partners and geographies to separate itself in a fintech-dominated market.

Transpay contends a network of local banks connected via an API can enable same-day payouts directly to the contractors’ bank accounts faster, securely, with externally assured compliance and and at less cost—a model designed to streamline compliance and remove third parties.

To expand its heft, the New York-based company has added Workana, a freelance platform that serves mostly workers in


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